Fannie, Freddie Salve Lauded

Wall Street Journal ^ | September 8, 2008 | NICK TIMIRAOS

[frithguild]

With the long-term future of Fannie Mae and Freddie Mac likely in the hands of the next president, both presidential candidates embraced Treasury's short-term measures to rescue the companies as a necessary step but criticized the need for government intervention. *** Republicans have long pushed for a structural overhaul of Fannie and Freddie. By contrast, Democrats have warned against making major changes until the companies were stabilized. The companies have traditionally had stronger backing from Democrats, who support their mission of bolstering affordable housing and for years have fended off calls for greater oversight.

Democrats received 56% of some $1.6 million in contributions from the two companies in the current election cycle, according to the Center for Responsive Politics.

Sen. Obama has received $105,849 from donors tied to the companies since he ran for the senate four years ago, making him the third-largest recipient in Congress among the top 25 listed in a recent report by the Center for Responsive Politics, which examined contributions dating to 1989.

Sen. McCain wasn't listed in the report, and proponents of overhaul say lobbyists have tried unsuccessfully to win him over.

***

[frithguild]

A campaign cash ATM bites the dust - we hope.

[RKV]

Sell them off at a discount and get the government out of the business altogether.

[xcamel]

Hundreds of dems relieved they’re not going to prison - just yet.

[outofsalt]

Google the names of prior CEO’s of Fannie and Freddie and check their political contributions. A few worked both sides of the aisle but the bulk of their donations were for the Dems. Of course several are now wrking for Obama.
This is worse than Enron but nobody will report it.

Leland Brendsel, Franklin Rains, Rham Emanuel, Jim Johnson, I’m sure there are many others.
http://www.spectator.org/dsp_article.asp?art_id=13841